International Flavors & Fragrances Inc.
) touched a new 52-week high of $88.84 during its trading session
on Nov 13. This denotes an increase over the previous high of
$87.68 reached the previous day, on Nov 12.
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International Flavors & Fragrances closed the trading day on
Nov 13 at $88.82, reflecting a solid year-to-date return of
45.6%. The trading volume for the session was 0.35 million
shares. Further upside potential exists for this Zacks Rank #3
(Hold) flavors and fragrances producer, as can be deduced from
its earnings estimate revisions in the last 30 days and expected
earnings growth of 8.5% for the next five years.
International Flavors & Fragrances fared well in the third
quarter 2013. Shares of the company since the earnings release on
Nov 5 has risen 5.5% and upward revision in earnings estimate
were also recorded. Earnings per share in the quarter came in at
$1.22, reflecting an increase of 13.0% over the year-ago quarter
and 4 cents above the Zacks Consensus Estimate.
Revenue grew by 5% or 4% on constant currency. Geographically,
business flourished in all operating regions, except for flat
results in North America. Growth in emerging markets was
appreciable at 8%. Adjusted operating margin at 19.4% was 50
basis points above the year-ago quarter.
The company remains focused on rewarding its shareholders through
dividend payments and share buybacks. Long-term growth prospects
are bright for International Flavors & Fragrances on the back
of new business wins, geographical diversification, wide product
lines, continuous accomplishments in research and intense
For 2013, management of International Flavors & Fragrances
anticipates overall results to be in-line with the long-term
Estimate Revisions Show Potency
Over the last 60 days, the Zacks Consensus Estimate for
International Flavors & Fragrances has increased by 0.5% to
$4.45 for 2013 and remained stable at $4.88 for 2014.
International Flavors & Fragrances currently has a market
capitalization of $7.3 billion. Other stocks to watch out for in
the industry are
HB Fuller Co.
) each of which carry a Zacks Rank #2 (Buy).